I have a question about inheritance.?

Question

I would like to know what are the requirements in order to inherit property or money.

I think i know that when my dad dies my mother inherits everything as a co-owner.

If both my parents were to die what happens to the house or the money they have or other bank accounts / also stock share they have?

If it does automatically goes to me, what happens if there are multiple

children in the household?

If my parents has a will which specifically states I wouldn't inherit any property/money do i get nothing

Answer 1

right... you would get nothing.

Answer 2

Some states don't allow parents to cut a child out of their will without just cause.  You might want to post this question in the legal section and see if someone there knows.

When your parents die their estate will go into "probate" which means that no one has access to anything until the court officially appoints the executor, who is most likely named in their will.

The executor's job is to settle the estate, paying off everyone that your parents owe money to first.  That includes the funeral home, nursing home, hospital, utility companies etc.  Then there is the distribution of the estate, often with specific requests that they might have made in their will for certain things to go to certain people.  This can include something small like a necklace up to something big like a summer home.

Sometimes people state in their will that the house and it's contents are to be divided among "the children" and then the children get to fight about it.  Being specific is good.  If there is a piece of furniture or jewelry or something that you really want, make sure that it is specified in writing that you are to get that item or you might not.

From the tone of your question it sounds like you might be at odds with your parents right now.  It's always worth the effort to try to mend those bridges if you can.  Good luck.

Answer 3

That would be right. What ever you have done to alienate your parents you need to get busy mending fences or you will be left standing alone looking broke.

Answer 4

well its all up to who yur parents want to give it to. ask them